Sometimes things just work out

I've been honest about fessing up when I make mistakes.

In my March post Canadian Banks - Buy 'em and Hold 'em I told about leaving a sell order on the table and leaving town for the day.  The result was that I was taken out of RBC (RY) on the way up at the very beginning of a rally for RBC shares.  Had I been paying attention I would have seen the share price approaching my sell order and either increased my ask or pulled the order allowing me to reassess the situation.  A month later, not having learned my lesson, I admitted that I'm not the sharpest knife in the drawer... with my story about a sell order for Cenovus Energy (CVE).  In this case, I failed to pay attention to the fact that Cenovus shares bounced one day and oil spiked overnight.  I left a sell order in place and once again was taken out on the way up and missed a nice gain later that same day.

So, when I finally do something right I'm going to brag a bit.  As mentioned yesterday, I doubled my positions with both BMO and RBC on Monday.  Wham!  BMO reported real good Q4 numbers before the markets opened on Tuesday and the shares took off.  I would have been happy if BMO shares rose to my new lower average acquisition price but they hit that and kept going. In one day I went from being under water to a real nice gain.

Sometimes things just work out.